If you’re not in the pornography business during a pandemic, are you even making money? OnlyFans owner Leonid Radvinsky is said to have made about $517 million in dividends since the beginning of 2021, thanks to the subscription platform’s surging profits during the pandemic.
OnlyFans raked in $433 million in pretax profits during the 12 months ending on November 30, marking a seven-fold increase compared to the same period a year earlier, the company reported on Thursday. As a result, Radvinsky, who made his prominence in the adult entertainment industry, received $284 million in dividends in 2021, followed by another $233 million between January and August of this year. That means Radvinsky made a jaw-dropping $1 million per day since January, as both creators and users flocked to the social media subscription service best known for its pornographic content.
OnlyFans receives a 20% commission on all content posted to its website, sending its revenue soaring from $358 million to $932 million for the period. The company reported that its subscriptions more than doubled, while the number of creators using the website rose by over one-third.
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The company last year decided to axe pornography from its website and instead focus on other categories, but walked back the decision following outcry from creators.
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